Originally posted by Kidicious
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Especially the steel tariffs may backfire very soon, considering the fact that the USA don't have all too many production capabilities for the high quality steel that gets imported from the EU (especially germany) and any US manufacturers that use high quality steel will have to buy the steel at exorbitant prices, as soon as their stockpiles are depleted.
Has the potential to drive many manufacturters into bankruptcy (and will surely result in steeply rising prices for their goods, unless they decide to produce/sell at a loss)
Not to forget that the retaliatory tariffs by the EU and Canada (and I suppose mexico) will follow soon, during this month and the beginning of the next one. Tariffs which will especially be aimed at products from those states where Trump and other high ranking republicans come from (and have their main voter base)
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